4 ms·
The base for an economic growth model does not need to be e and generally would not be the same for different economies. The base for catching up economies is u
by nopinsight 8y ago
The base for an economic growth model does not need to be e and generally would not be the same for different economies. The base for catching up economies is usually higher than developed economies (say 1.2 vs 1.1).
In any case, a simple exponential equation is too simplistic for real economies.